Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2014 Year 2014 This

Claim of exemption u/s 54F – amount advanced to his wife towards ...


Exemption Approved: Taxpayer Claims Section 54F for Funds Advanced to Spouse, Holds 50% Property Ownership.

July 4, 2014

Case Laws     Income Tax     AT

Claim of exemption u/s 54F – amount advanced to his wife towards purchase of the property - assessee has 50% ownership over the property - exemption allowed - AT

View Source

 


 

You may also like:

  1. The case deals with the applicability of Section 54EC of the Income Tax Act, which provides exemption from capital gains tax if the gains are invested in specified bonds...

  2. ITAT ruled in favor of the assessee regarding disputed cash deposits and property investments made through NRE account. The tribunal rejected revenue authorities'...

  3. Deduction claimed u/s 54 - oint owners of the house property having 50% right, title and interest over the property - Since the assessee and her son have jointly...

  4. Reopening of assessment u/s 147 - reasons to believe - Superannuation fund - Exemption u/s 10(25)(iii) - Evidently, as on the date of issuance of notice of reopening of...

  5. Assessee trust formed on 02.09.2014 but granted registration u/s 12AA from AY 2016-17 onwards. For AY 2015-16, exemption u/s 11 denied due to lack of registration....

  6. Disallowance of interest difference between the rate paid on borrowed capital and the rate advanced to a wholly owned subsidiary is not warranted. The Supreme Court in S....

  7. Disallowance of proportionate interest u/s 36 (1) (iii) - when assessee had sufficient funds, why should it depend on borrowed funds. In any case, if at a given point of...

  8. Benami Property - Transaction entered into between spouses - while enacting the Act, the legislatures have kept in mind the practical scenario of the society where a...

  9. Validity of approved Resolution Plan - Authorized Representative on behalf of majority of home buyers represented - the view of individual homebuyer is therefore...

  10. The key points covered are: Non-deduction of TDS on export commission paid to non-resident agents was held as correct since the services were rendered outside India and...

  11. Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

  12. Income from house property - one is self occupied property and second is vacant property - AO has applied ALV at 7% of book value of the property and computed deemed...

  13. Tax Incentives to International Financial Services Centre - (i) Time limit for exemption on Transfer of assets of the original fund, or its wholly owned SPV to a...

  14. Exemption on property tax paid on immovable property - Notification

  15. The assessee failed to demonstrate that the financial assistance availed on interest was utilized for business purposes without diversion. Where an assessee has...

 

Quick Updates:Latest Updates